COMMISSIONER OF INCOME TAX Vs. CHITRAKALA INVESTMENT TRADE

JUDGEMENT

(1.) RAISING the following substantial questions of law : "1. Whether the Tribunal was correct in holding that the assessee was entitled to claim the entire interest from the 1st jurisdiction to decide the period of computation of interest and it was the CIT or the Chief CIT who had to do it ?

(2.) WHETHER the interest amount can be paid to the assessee in respect of a period when the TDS certificate and the remittance itself was not made especially when interest under s. 244A of the Act is payable to compensate the assessee and no finding in this regard has been recorded by the Tribunal - The facts leading to the filing of this appeal are : In respect of the asst. yr. 1999 -2000, the assessee filed its return of income which came to be processed under s. 143 interest under s. 244A of the Act in a sum of Rs. 72,998 which was calculated on the basis of the submission of TDS certificate and corresponding remittance of the advance tax paid.

(3.) BEING aggrieved by the same, the assessee filed an appeal before the CIT(A), Mangalore which came to be allowed in year till the date of refund was not permissible under the Act and only the whole month's interest was held to be allowable.